U.S. vows to continue patrols after China warns spy plane (Reuters) Bank of Japan Chief Cheers On Tokyo’s Surging Stocks (WSJ) Merkel Stamps Out Optimism on Greece After Tsipras Talks (BBG) Greece sees reforms deal with lenders in next 10 days (Reuters) Why Greece’s Syriza party is not sticking to the script on an IMF deal (Channel4) Why Does Putin Care Who Runs a Tiny Balkan Nation? Gas Pipelines (BBG) U.S. Stock-Index Futures Are Little Changed Before Yellen Speech (BBG) German Business Confidence Declines as Risks Cloud Outlook (BBG) Brazil’s Economic Downturn, Corruption Scandals Shake Leader (WSJ) Clinton Foundation reveals up to $26 million in additional payments (WaPo) Uber in Talks for $1 Billion Credit Facility With Banks (WSJ) Yellen Haunted by Taper Tantrum as Fed Rate Rise Draws Closer (BBG) Greece Submerges as Crisis Fallout Worse Than Emerging Markets (BBG) U.S. bird flu causing egg squeeze, emergency measures (Reuters) Baltimore grand jury indicts police in death of Freddie Gray (Reuters) Overnight Media Digest FT Six global banks including Barclays and Royal Bank of Scotland have been fined a combined sum of more than $5.6 billion to settle charges of rigging foreign exchange markets between Dec 2007 and Jan 2013. U.S. Department of Financial Services' (DFS) top banking regulator Benjamin Lawsky has quit government services to start his own law and consulting firm. Lawsky will leave DFS in late June, according to people familiar with his plans. Stockholm-based music streaming service Spotify has revamped its platform and inked partnerships with content providers to offer video and podcasts, Chief Executive Daniel Ek said. The revamp comes weeks before Apple Inc readies to launch its own streaming service to compete with Spotify and others. Jeff Immelt, chief executive of GE, while speaking at a conference in Florida, said that the company was willing to sell intellectual property around a product to allay fears of the European Commission that an acquisition deal between GE and Alstom would harm competition in the gas and turbine market NYT * Benjamin Lawsky, known as the Sheriff of Wall Street, is said to be stepping down as New York's top financial regulator in June to start his own legal and consulting firm.(http://nyti.ms/1ILJFap) * CareFirst, a Blue Cross Blue Shield plan, on Wednesday became the third major health insurer in the United States to disclose this year that hackers had breached its computer systems and potentially compromised some customer information. The attack could affect as many as 1.1 million of its customers. (http://nyti.ms/1Amw7PR) * With its $9.1 billion acquisition of Suddenlink Communications on Wednesday, European company Altice established a small foothold in the United States cable market. But the deal may have set the stage for Altice to go after an even larger and more tantalizing target: Time Warner Cable Inc . (http://nyti.ms/1Lns5aT) * Spotify, which has come to dominate the world of subscription streaming music, announced a series of changes to its mobile app on Wednesday, moving into new realms of media distribution just ahead of the expected arrival of a competing service from Apple Inc. (http://nyti.ms/1IQCJar) * A London judge on Wednesday denied an appeal by Navinder Singh Sarao, the futures trader accused of playing a major role in causing the "flash crash" of 2010, to reduce his bail after the United States government froze his assets worldwide. (http://nyti.ms/1IMpIAj) Canada THE GLOBE AND MAIL ** Shopify Inc has raised C$131 million ($107.30 million) in its initial public offering, pricing the shares above an increased range as investors clamored for stock in the provider of software for small businesses. (http://bit.ly/1Lonpl9) ** With the busy summer travel season set to take flight, Air Canada is about to begin clamping down on carry-on baggage to ensure it meets regulations. Starting next Monday at Toronto's Pearson International Airport, airline staff will be stationed at both check-in and security checkpoints to ensure carry-on bags meet size and weight requirements. (http://bit.ly/1cPP2Yr) ** The prospect of a liquefied natural gas industry in British Columbia would be a game-changer for aboriginal communities, Premier Christy Clark said on Wednesday. But she sidestepped the question of what happens if some of those communities continue to say no to the developments. (http://bit.ly/1K4tqCs) NATIONAL POST ** An east-end Montreal college is gaining a reputation as a breeding ground for jihadis after four of its students were arrested at the airport Friday, allegedly on the verge of taking off to join an overseas terror group. (http://bit.ly/1HwiJLw) ** British Columbia is promising significant "cost-certainty" assurances to the Petronas-led consortium proposing a natural gas export project on the West Coast, even as rising opposition from First Nations threatens to sour the plan. (http://bit.ly/1dmB4xW) Hong Kong SOUTH CHINA MORNING POST -- Supply chain manager Li & Fung on Thursday urged shareholders at its annual general meeting to be patient even as it forecast difficulties to persist amid bleak prospects for global consumer demand this year. (http://bit.ly/1F4PhGB) -- The London Metal Exchange is in detailed talks with mainland authorities to create direct trading links with domestic commodity exchanges that would emulate the Shanghai-Hong Kong Stock Connect, the company's Chief Executive Garry Jones said. (http://bit.ly/1F0MHQM) THE STANDARD-- Hong Kong's inflation sank to a low in more than 30 months in April, with prices held in check by cheaper imports due to a stronger local currency, a trend tipped to continue, data from the Census & Statistics Department showed. (http://bit.ly/1IShIwa) HONG KONG ECONOMIC JOURNAL-- The union of Cathay Pacific Airways threatened to strike in August if the Hong Kong-based carrier ignores its demands in a protest over pay and benefits Britain The Times BARCLAYS FINED RECORD $2.4 BLN OVER FOREX FIX Six of the world's largest investment banks, including Barclays Plc and Royal Bank of Scotland, have been fined about $5.7 billion by U.S. regulators in the second and final major settlement with the industry over the foreign exchange markets manipulation scandal. (http://thetim.es/1egFHKc) JUDGE REJECTS BAIL PLEA FROM LONDON'S 'FLASH CRASH' TRADER The British trader blamed for helping to wipe hundreds of billions of dollars off the value of U.S. shares five years ago is facing a fifth week behind bars after a judge rejected his appeal against a 5 million pounds ($7.77 million) bail condition. (http://thetim.es/1egGFpH) The Guardian SCORES OF ALLEGED PHONE-HACKING VICTIMS PREPARE TO SUE MIRROR PUBLISHER Trinity Mirror Plc is facing a soaring legal bill after dozens of alleged phone-hacking victims, including senior Labour party figures, scores of TV stars and David Beckham's father, prepare to sue the Daily Mirror publisher. A number of journalists at the Daily Mirror, Sunday Mirror and the People were accused at the trial of carrying out "industrial-scale phone hacking" between mid-1999 and 2009. (http://bit.ly/1egIfb2) DAVID CAMERON WARNED HE COULD LOSE MINISTERS OVER EU REFERENDUM CAMPAIGN David Cameron is being warned that a number of ministers will resign unless he allows cabinet members to follow their conscience and campaign for a no vote in the EU referendum. (http://bit.ly/1egIt29) The Telegraph GEORGE OSBORNE TO PRIVATISE 23 BLN STG OF TAXPAYER ASSETS George Osborne has pledged to privatise 23 billion pounds ($35.72 billion) of government assets by the end of the next year in an attempt to bolster public finances and increase productivity. (http://bit.ly/1egJuqL) AIRBUS CHIEF SAYS FUTURE INVESTMENT AT RISK IF UK LEAVES EUROPE The head of Airbus in the UK, Paul Kahn, has said the aerospace and defence giant would reconsider future investment in the United Kingdom were it to leave the European Union. (http://bit.ly/1egJK9o) Sky News HG TO BUY EFFECTS FIRM THE FOUNDRY FOR $310.60 mln The Foundry, which offers post-production and other services to film and television studios, is being bought by Hg Capital, a London-based private equity firm. (http://bit.ly/1egEYsn) BOOKER TO BUY LONDIS AND BUDGENS CHAINS Food wholesaler Booker is to buy the Londis and Budgens chains in England, Scotland and Wales in a deal that will strengthen its status as an independent grocery retailer. (http://bit.ly/1K2RSUJ) The Independent VODAFONE HEAD JOINS DEUTSCHE BANK IN WARNING OVER EU EXIT The battle over Britain's membership of the European Union intensified as two of the country's largest employers warned that an exit would be damaging to the economy. (http://ind.pn/1egIG5m) WAGES PAID TO ILLEGAL IMMIGRANTS WILL BE CONFISCATED BY THE POLICE, SAYS DAVID CAMERON The wages paid to illegal migrants working in the shadow economy will be confiscated by police as part of a fresh drive by David Cameron to push down immigration. (http://ind.pn/1egJ6IS)